Holmusk, a Singapore-based data science and health technology company, closed on a $21.5 million Series A round of funding on Monday.
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The round was led by Optum Ventures and Health Catalyst Capital and included existing investors Heritas Capital, as well as other individuals, according to a written statement. In addition to the investment, Dr. Vijay Barathan from Optum Ventures and Charles Boorady from Health Catalyst Capital will join the company’s board of directors.
Holmusk is developing a Real-World Evidence platform in behavioral health and chronic diseases to expand data-driven, evidence-based care for people managing behavioral health conditions, the company said. It works by bringing together specialty behavioral health data and Holmusk’s novel analytics platform to deliver evidence-based insight that can be used to make treatment decisions, as well as the commercialization of new drugs.
“By redefining the EHR (electronic health record) from a repository of data to a clinical decision support tool with connectivity to digital therapeutics, Holmusk is uniquely positioned to improve patient care while reducing administrative burden and supporting the research and development of new care models and therapies,” Boorady said in a written statement.
In 2016, Holmusk acquired MindLinc, an EHR system focused on behavioral health, from Duke University School of Medicine. This enabled the company to leverage longitudinal data– stretching over 20 years–from many mental health institutions across the U.S.
In addition to its Singapore headquarters, Holmusk has offices in New York, London and Shanghai. Part of the new funding will go toward expansion of its U.S. operations, the company said.
Funding will also be used to invest in the Real-World Evidence platform to gather and analyze data to accelerate drug development and data-driven medicine.
Illustration: Dom Guzman